Nami | Daily Crypto News 22.01.2018

CNBC: Venezuela is trying to float its own cryptocurrency to save a sinking economy—but investors aren’t believing the ‘petro’ hype

Venezuela is perched on the edge of an economic collapse, and is trying to float its own cryptocurrency. The “petro” will leverage the country’s vast oil reserves as currency. Analysts, and elements of Venezuela’s own government, have profound doubts about the plan.

Coin Desk: Indian State Partners With Fund To Launch Blockchain Ecosystem

Andhra Pradesh has signed a Memorandum of Understanding with Covalent Fund, to start a blockchain ecosystem. The partnership will also soon launch a blockchain university, with a $10 million initial investment.

A cargo of US soybeans shipped to China has become the first fully-fledged agricultural trade conducted using blockchain. Louis Dreyfus Co, Shandong Bohi Industry Co, ING, Societe Generale and ABN Amro took part in the trade where the sales contract, letter of credit and certificates were digitalised on the Easy Trading Connect (ETC) platform.

Forbes: 35 Amazing Real World Examples Of How Blockchain Is Changing Our World

It’s quickly becoming apparent that blockchain technology is about far more that just Bitcoin. Across finance, healthcare, media, government and other sectors, innovative uses are appearing every day. This article is a list of 35 Blockchain-applications.

The Edge Market: To ICO or not to ICO? That is the question for today’s startups

Start-up companies today must answer an important question: Should they pursue traditional venture capital with its predictability and limitations or turn to ICOs where there is quick money, volatility and innumerable unknowns?

While the heat builds up on local cryptocurrency trading here, and the government approaches a decision on whether or not to ban it, the Financial Consumer Agency (FCA) has said it would be illegal for the country to halt trades of the digital coins.

As interest in cryptocurrencies such as bitcoin, ethereum and ripple continues to grow, it is only a matter of time before the government considers taxing transactions and trading gains made on these assets.

Bitcoin exchanges are under fire in India, as many of the nation’s top banks have suspended or greatly curtailed functionality on exchange accounts. State Bank of India (SBI), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank have all taken strong action toward crypto exchanges, either closing accounts or severely limiting functionality.

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